BTC, Gold Jump as Shutdown Delays Data, Fuels Rate-Cut Bets: Crypto Daybook Americas

Core Insights - Bitcoin is entering a critical phase as macroeconomic factors and specific crypto trends align, with BTC rising to $120,000 after a 9% increase this week, while gold also saw a 2.9% rise to $3,900 [1] - The U.S. government shutdown has significantly impacted regulatory bodies, with over 90% of SEC staff furloughed, leading to market rallies as investors anticipate a 25 basis point interest rate cut by the Federal Reserve [2] - Historical trends indicate that October is typically a bullish month for Bitcoin, with on-chain data showing a monthly demand increase of approximately 62,000 BTC since July, largely driven by ETFs and large investors [4] Market Dynamics - The crypto market is experiencing growth, particularly in DeFi trading activity, which is being fueled by renewed interest from Asia, suggesting a shift towards broader market adoption [5] - Anticipation is building around potential catalysts in the crypto space, including ETF decisions for altcoins like Solana and XRP, as well as Ethereum's Fusaka upgrade [5]